The bank officer looked like he'd had a rough day, so I just said "thank you" and walked out with my cashier's check. Man, did that weird, walking down the sidewalk with nearly all my cash assets on me. Was very glad to get it deposited into my shiny new credit union account.
The ill-fated $5 fee isn't the only reason to go to a credit union.
I was fairly grumbly when I agreed to a $6 monthly fee that allows for unlimited transactions (except at the *wrong* ATMs of course). My hate for banks remains though; they discriminate against poor people by making rich/dependable customers have no fees. I won't abide that.
I gave up on BofA around 1982, as a teen, when I found my savings account with them was losing more money via service charges than it ever earned in interest. I always wondered how long they would have let that ripoff go on. In all the time since then, I've never heard any good about them, and wondered why anyone would use their services when given a choice.
For those who are saying that you can use an EFT to transfer funds to a credit union, can you explain how to accomplish that? I just tried Wells Fargo's online banking and the only options they provide are to transfer funds between accounts within that bank (checking to savings, or to someone else's account). I have an account at a credit union already, so it's literally just shifting funds.
While the Bank Transfer Day movement acknowledges the enthusiasm from Anonymous and Occupy Wall Street, the Bank Transfer Day movement was neither inspired by, derived from nor organized by Anonymous or the Occupy Wall Street movement, and the Bank Transfer Day movement does not endorse any activities conducted by Anonymous or Occupy Wall Street.
"As a cooperative, we try to keep our fees low. However, with rising costs, it is necessary to make pricing adjustments. Effective October 31, 2011, our basic checking will incur a $5 monthly charge to offset member processing expenses. Thank-you for your loyalty!!!"
"Effective November 1, 2011, BCM FCU will not offer a travel rewards or cash back program for MasterCard and VISA credit card holders. Members will have until December 31, 2011 to redeem any outstanding travel reward points."
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